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and federal government also. but he also said that they would have to meet his goals and ideas. leader harry reid, he was more concerned that they were going to be able to reach some kind of an agreement avoid going off the fiscal cliff. gerri: how concerned are you? what would it mean if we read right over the edge? you believe that there will be some agreements by decembee 31? >> it is hard to tell. the house, the senate, the republicans, it's very tough negotiitions up there. i will tell you that i did meet with my finance officer this morning. my budget director. we talked about comparing my state budget. we have to make our decisions within the next month. the state of oklahoma, it will cost to $700 million in so many things. if we got the fiscal cliff. gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state
and federal government also. but he also said that they would have to meet his goals and ideas. leader harry reid, he was more concerned that they were going to be able to reach some kind of an agreement avoid going off the fiscal cliff. gerri: how concerned are you? what would it mean if we read right over the edge? you believe that there will be some agreements by decembee 31? >> it is hard to tell. the house, the senate, the republicans, it's very tough negotiitions up there. i will...
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the agency's, the salaries of all government employees. more of a leg to stand on about fairness and taxing the rich. if our politicians would give up their entitlements we would save the country billions and not have to affect the eneral public and their social security and medicare. dan says, thii tax bite is why we should hold elections on april 15th. that is a great idea. it all comes together. i love hearing from you. send me an e-mail. gerri@foxbusiness.com. finally tonight, just when you thought of retiring massachusetts congressman -- congressman barney frank was stepping out of the limelight, no way. the boston globe reporting the 72-year-old democratic congressman who is set to retire in january hired the bi shot hollywood agency william morris to represent him in the next phase of his career. william morris is run by r.e.m. manuel, the brother of chicago mayor and the inspiration for the character ari goldman the
the agency's, the salaries of all government employees. more of a leg to stand on about fairness and taxing the rich. if our politicians would give up their entitlements we would save the country billions and not have to affect the eneral public and their social security and medicare. dan says, thii tax bite is why we should hold elections on april 15th. that is a great idea. it all comes together. i love hearing from you. send me an e-mail. gerri@foxbusiness.com. finally tonight, just when you...
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and part of this is being subsidized by the government through record disability payments. lou: disability paymen from social security administration, taking that a side when one looks at food stamps and medica alone, you can add other incentives as well and support programs, but we are looking at the prospect of ving one in the quarter workers for every one person on welfare and working the government. we are reaching a dangerous, dangerous to pinpoint in this country, and we have nancy pelosi, the minority leader saying that you cannot cut your way to deficit reduction. mind-boggling. >> it is mind-boggling. after the second world war we cut our government spending by 60 percent. the economy boomed. we cut ourselves all the way into a big surplus. israel was in a catastrophic crisis in the mid 80's. it cut its way drastically to surplus. lou: this country has a long history. >> and new zealand. lou: this country, if we can be parochial allotted for a moment, we can learn from our own experience. it is pretty clear that when we talk about, as this administration has, retur
and part of this is being subsidized by the government through record disability payments. lou: disability paymen from social security administration, taking that a side when one looks at food stamps and medica alone, you can add other incentives as well and support programs, but we are looking at the prospect of ving one in the quarter workers for every one person on welfare and working the government. we are reaching a dangerous, dangerous to pinpoint in this country, and we have nancy...
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maybe the government is simply making a peace savings. i do know seniors cannot save $5 billion without someone paying the price. melissa: thank you. be sure to watch the tom sullivan show this weekend. have all wonderful weekend. happy friday, everyone. we will see you back here on monday. ♪ gerri: tonight, did president obama break the law? some in the senate say yes, and now the cases in front of a judge. we will have a heated debate. with more than a million charities and the u.s. alone, how did you find the best one? we have you covered. "welcome to "the willis report." hello, everybody. i'm gerri willis. tonight no progress on the fiscal cliff as democrats and republicans trade barbs over the issue. one group of americans is finding a way through this regardless of congress and the president. small-business owners in this country are preparing to hire. join me now, chief u.s. economist for i may just pull one side. heart of america group founder, and member of the jobs creation alliance and actual job creators in this country who
maybe the government is simply making a peace savings. i do know seniors cannot save $5 billion without someone paying the price. melissa: thank you. be sure to watch the tom sullivan show this weekend. have all wonderful weekend. happy friday, everyone. we will see you back here on monday. ♪ gerri: tonight, did president obama break the law? some in the senate say yes, and now the cases in front of a judge. we will have a heated debate. with more than a million charities and the u.s. alone,...
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the saudi government didn't specifically names. citing a ongoing investigation. a virus hit 30,000 aramco computers in august, aiming to shut down production. this is the new frontier by the way. >> chris mass comes early for -- christmas comes early for pot lovers in colorado and washington. whoo-hoo. with the legal mess just beginning it is anything but a smokers paradise. we bring in a pot panel. why not? to break it down next. do you have ever have too much money? you know how painful heartburn can be. for fast, long lasting relief, use doctor commended gaviscon®. only gaviscon® fms a protective barrier that helps block stomach acid from splashing u relieving the pain quickly. try fast, long sting viscon®. the potential of manchester united locked. nyse euronext. unlocking the world's potential. [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protec them. [ thunder crashes ] it doesn't. stop preteing. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your r
the saudi government didn't specifically names. citing a ongoing investigation. a virus hit 30,000 aramco computers in august, aiming to shut down production. this is the new frontier by the way. >> chris mass comes early for -- christmas comes early for pot lovers in colorado and washington. whoo-hoo. with the legal mess just beginning it is anything but a smokers paradise. we bring in a pot panel. why not? to break it down next. do you have ever have too much money? you know how painful...
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government gets that money. you have inherent problem in the way the government is working, period. the fact that they have to come to a crisis situation for every major decision is a big problem, and that actually was chad, our producer up on capitol hill asking that question about deadlines every time for a big decision, but you're right, and i don't see it yet. i agree with you. i thought it was 50/50 coming into this week. i think it's 70/30 now that we're going over the cliff, and maybe even higher than that, as you listen and talk to behind even behind the scenes. connell: i didn't know it was him, but i was nodding thinking that's what everybody's thinking, every single time, and that's why people get tired of it. listen to speaker boehner quickly here on what he had to say about spending cuts moments ago. here's the speaker. >> i've been pushing all year for us to address the problem, but here we are at the 11th hour, and the president, still, is not serious about dealing with this isssue right here. it'
government gets that money. you have inherent problem in the way the government is working, period. the fact that they have to come to a crisis situation for every major decision is a big problem, and that actually was chad, our producer up on capitol hill asking that question about deadlines every time for a big decision, but you're right, and i don't see it yet. i agree with you. i thought it was 50/50 coming into this week. i think it's 70/30 now that we're going over the cliff, and maybe...
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thatctually is a critical part of government oversight. the alternative would be just allowing for-profit pipeline operators to insure their safety and for millions of property owners out there, that is definite not going to be enough. even with the level of regulation we have ow, we've seen several major incidents over the last several years where pipeline operators knew about reliability d maintenance problems but because they were being budget conscious, they cut those corners and as a resulteople got injured and we had significant property damage. so in answer to here is - melissa: give you last word. >> is government regulation. melissa: give you last word on this one. i think he is talking about the natural gas pipeline in san bruno, california. >> yes. melissa: where eight people were killed. there were 37 homes destroyed. 60 other people were injured. what do you think? i'll give youhe last word. >> if they did that budget cutting that is false economy. i agree with tyson we should enforce the rules we have and should have inspecto
thatctually is a critical part of government oversight. the alternative would be just allowing for-profit pipeline operators to insure their safety and for millions of property owners out there, that is definite not going to be enough. even with the level of regulation we have ow, we've seen several major incidents over the last several years where pipeline operators knew about reliability d maintenance problems but because they were being budget conscious, they cut those corners and as a...
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to force government to shrink itself. this is the only way they will do that in my opinion, to have strict term limits for politicians in the future, single term limits so that politics is a duty and no longer a career by buying votes with voters money in perpetuity and that is what the fiscal cliff is all about. is sucking money in a huge transfer from the private sector to big government and big government is totally destructive to the economy and the morale of the nation. dennis: i think the notion that the congress will introduce term limits is on display in a redesign of fantasyland. let's say we do go over the cliff and instead marginal rates go up on their ridge. this doesn't have to be a devastating blow to the economy. doesn't capital at some point find a way to make money? >> all i can tell you is when i came into parliament with margaret thatcher as prime minister the top rate of tax was 92% on the ridge and england was dealing its way into the ocean. margaret thatcher dropped it in the first month to sixty% an
to force government to shrink itself. this is the only way they will do that in my opinion, to have strict term limits for politicians in the future, single term limits so that politics is a duty and no longer a career by buying votes with voters money in perpetuity and that is what the fiscal cliff is all about. is sucking money in a huge transfer from the private sector to big government and big government is totally destructive to the economy and the morale of the nation. dennis: i think the...
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additional insight into the government's case against him. if martoma cooperates, it is actually very important for his defense. we should also point out that martoma's attorney will deny the cooperation agreement. they are footing the bill for martoma's legal fees which is separate from his cooperation agreement. jake, unpack this for us. they have a cooperation agreement, which i think is pretty key here. what do you make of it. >> martoma just made the biggest trade of his life. he chose steve cohen. here is the deal that they have. steve cohen is paying the legal fees. that could be millions. he gets a copy of the government playbook. they will work and share information together. rather than flipping on steve cohen, he has decided to work with him and he is betting that the high-priced lawyers will beat the feds, as they usually do. adam: is this kind of like a conflict of interest. >> they say we have the same interests and beating the government and saying this was not insider-trading. the government also flipped this doctor who told m
additional insight into the government's case against him. if martoma cooperates, it is actually very important for his defense. we should also point out that martoma's attorney will deny the cooperation agreement. they are footing the bill for martoma's legal fees which is separate from his cooperation agreement. jake, unpack this for us. they have a cooperation agreement, which i think is pretty key here. what do you make of it. >> martoma just made the biggest trade of his life. he...
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that is what the government wants. tell us what you said. how you said it. did steve cohen no it was inside legal information. melissa: it seems like a conflict of interest. charlie: it is completely legal. his contract may not have said we give you, you know, we give you lawyers until the day you die. it would be interesting to know if they cut this deal to pay for the lawyers even though it was not in the contract. we do not know that. we just know that they are paying for it. the suspension is that we have not gotten this confirmed, peter henning is they have a cooperation agreement. that would be a huge leg up with martoma ever does cooperate. he knows essentially what he will say. melissa: 19 days to go until the fiscal cliff congressional republican leader vowing to stay in washington until a deal gets done. lori: we will get john carney's take on all of this right ahead. here are some losers and winners on the s&p 500. ♪ can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a hol
that is what the government wants. tell us what you said. how you said it. did steve cohen no it was inside legal information. melissa: it seems like a conflict of interest. charlie: it is completely legal. his contract may not have said we give you, you know, we give you lawyers until the day you die. it would be interesting to know if they cut this deal to pay for the lawyers even though it was not in the contract. we do not know that. we just know that they are paying for it. the suspension...
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this is a government-run market now. it is not a free market. it's a government-run market. so where is the government on your question? melissa: yeah. >> we don't know. melissa: we don't know. >> there has been no leadership. melissa: we don't know although that they are hostile to a certain extent. $47 billion is a lot of money obviously. that would create a quite a lot of jobs, right? they reilly turned down ss many jobs and revenue when the economy is hurting so much. >> and it is not just export% lng. my bottom line, yes, we should export lng if we have a market out there to serve but let's do even more with natural gas. let's make natural gas into transportation fuels, cng, compressed natural gas, liquified, natural gas both for trucking. methanol or even gasoline can be made from natural gas. so why don't we use natural gas and get off imported oil? only takes a little bit of political leadership. melissa: you're not talking about lng, is liquifying natural gas. that is what we would have to do if we want to export natural gas to asia or europe which are two ripe mark
this is a government-run market now. it is not a free market. it's a government-run market. so where is the government on your question? melissa: yeah. >> we don't know. melissa: we don't know. >> there has been no leadership. melissa: we don't know although that they are hostile to a certain extent. $47 billion is a lot of money obviously. that would create a quite a lot of jobs, right? they reilly turned down ss many jobs and revenue when the economy is hurting so much. >>...
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business in government. have it all on "varney & company." ♪ think of the fun i've missed, think of the fellas that i haven't kissed ♪ [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. can youlyric can.aid do this? break from the holiday stress. lyric can. lyric can. lyric by phonak is the world's only 24/7, 100% i
business in government. have it all on "varney & company." ♪ think of the fun i've missed, think of the fellas that i haven't kissed ♪ [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support...
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the government can borrow at that rate. it could go lower if the federal reserve has its way. ♪ >> im lori rothman with your fox business brief. caterpillar is growing on the list of companies adding -- it remains its quarterly dividend. netflix shares jumping after morgan stanley raised its price target $25. pickup is by rating. netflix is on track to temporarily disrupt the cable ecosystem. holiday shopping impacted by hurricane sandy. wells fargo shows shoppers spent more and small retailers then they did this time last year. total u.s. resales increased. that is the latest from the fox business network. giving you the power to prosper. ♪ connell: major-league baseball renewed its contract with stubhub. the thing is, we mentioned this a couple times. not all of the big teams in the league are on board. the president of stubhub is joining us to talk about this. obviously, you are excited. the yankees have opted out. the cubs have opted out. these are big teams opting out. that is not great. >> well, i appreciate you b
the government can borrow at that rate. it could go lower if the federal reserve has its way. ♪ >> im lori rothman with your fox business brief. caterpillar is growing on the list of companies adding -- it remains its quarterly dividend. netflix shares jumping after morgan stanley raised its price target $25. pickup is by rating. netflix is on track to temporarily disrupt the cable ecosystem. holiday shopping impacted by hurricane sandy. wells fargo shows shoppers spent more and small...
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the only real hope you have is a change of government. it will not happen over american support. connell: they have elections next year. not that we are counting on the most honest elections or anything like that. the economy is struggling, you would think the leadership would change. >> eastern europe used to be a communist bloc satellites of the soviet empire. the collapse of the soviet economy back in the early 80s brought us the whole revival of the wall coming down. those kinds of things can still happen in iran. they have to have the same kind of support that ronald reagan gave to the polish and eastern europeans back when it was not a popular thing to do. dagen: do you believe that the current obama administration is willing to provide that kind of support? >> no. that is why i wrote this book. it is about what happens if you do not do the right kind of things to support democracy. quite frankly, we are not doing enough with the right kind of things. dagen: it is a novel? >> it is a novel. this is about and administration that does not do the right things just as we are no
the only real hope you have is a change of government. it will not happen over american support. connell: they have elections next year. not that we are counting on the most honest elections or anything like that. the economy is struggling, you would think the leadership would change. >> eastern europe used to be a communist bloc satellites of the soviet empire. the collapse of the soviet economy back in the early 80s brought us the whole revival of the wall coming down. those kinds of...
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there was a lot of government activity. government funding itself to drive innovation around environmentally friendly vehicles. there is obviously a lot of defense spending as well. tracy: a really cool study. thank you for taking the time and staying up with us and monday. >> no problem. thank you, tracy. ashley: big bad shining rightly. with all the excitement over duchess kates pregnancy, i know tracy is on the edge of her seat. a couple of djs decided to try their luck on getting some insider information on kates condition by impersonating the queen spirit hello, i am just asking about my grand on. her daughter kate. >> she is getting some fluids to rehydrate her. she is stable at the moment. >> okay. [ laughter ] ashley: that is the worst impersonation. the hospital admitted, guess what, they call the whole thing deplorable. the radio station apologizing for calling any issues. the host said that expected to be hauled off on after the hospital toward their terrible british accents. it was not good at all, but they got
there was a lot of government activity. government funding itself to drive innovation around environmentally friendly vehicles. there is obviously a lot of defense spending as well. tracy: a really cool study. thank you for taking the time and staying up with us and monday. >> no problem. thank you, tracy. ashley: big bad shining rightly. with all the excitement over duchess kates pregnancy, i know tracy is on the edge of her seat. a couple of djs decided to try their luck on getting some...
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the beast is the government, in my opinion here. the beast is the government. you don't reward the beast by giving it more food, more dollars. that's what i near is going on here. melissa: yeah. lori: the president's desire to get rid of the debt ceiling limit at all, what kind of ramifications, what could happen? are we looking at another debt downgrade? a second downgrade could be really, really -- >> here is what i agree with him. this charade we go through every few months on the debt limit. republican presidents, democratic presidents, mark zandi from moody's it does damage our credibility. i agree to something like that. i didn't like fiat saying i will handle the debt thing. that would be like letting me run loose in a best buy electronics store. not a good idea. i understand where he is coming from. we do have a find a way we can, you know, not hold our entire government hostage to these debt ceiling issues. but i just don't like what he is doing. i'll take over here. that could be the wolf guarding the henhouse i. lori: i think we're looking at another
the beast is the government, in my opinion here. the beast is the government. you don't reward the beast by giving it more food, more dollars. that's what i near is going on here. melissa: yeah. lori: the president's desire to get rid of the debt ceiling limit at all, what kind of ramifications, what could happen? are we looking at another debt downgrade? a second downgrade could be really, really -- >> here is what i agree with him. this charade we go through every few months on the debt...